Pitcairn Co. Acquires Shares of 1,105 ResMed Inc. (NYSE:RMD)

Pitcairn Co. acquired a new stake in shares of ResMed Inc. (NYSE:RMD) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,105 shares of the medical equipment provider’s stock, valued at approximately $219,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of ResMed by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 17,743,457 shares of the medical equipment provider’s stock worth $3,052,229,000 after acquiring an additional 173,635 shares in the last quarter. Bank of New York Mellon Corp raised its position in ResMed by 230.3% in the 1st quarter. Bank of New York Mellon Corp now owns 3,813,119 shares of the medical equipment provider’s stock worth $755,112,000 after purchasing an additional 2,658,709 shares during the last quarter. Norges Bank bought a new position in ResMed in the 4th quarter worth approximately $233,966,000. Charles Schwab Investment Management Inc. raised its position in ResMed by 5.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 863,289 shares of the medical equipment provider’s stock worth $148,503,000 after purchasing an additional 46,113 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in ResMed by 15.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 698,905 shares of the medical equipment provider’s stock worth $120,225,000 after purchasing an additional 95,689 shares during the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have commented on RMD shares. Needham & Company LLC reiterated a “buy” rating and set a $236.00 target price on shares of ResMed in a research report on Monday, June 24th. Citigroup cut shares of ResMed from a “buy” rating to a “neutral” rating in a research report on Monday, June 24th. KeyCorp upped their price objective on shares of ResMed from $227.00 to $238.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Oppenheimer cut shares of ResMed from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 25th. Finally, Royal Bank of Canada upped their price objective on shares of ResMed from $200.00 to $204.00 and gave the company a “sector perform” rating in a research report on Tuesday. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $203.20.

ResMed Trading Down 0.2 %

ResMed stock opened at $207.98 on Friday. The firm has a 50-day moving average of $204.57 and a 200-day moving average of $194.82. ResMed Inc. has a one year low of $132.24 and a one year high of $229.97. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.04 and a quick ratio of 1.97. The company has a market cap of $30.55 billion, a price-to-earnings ratio of 32.01, a P/E/G ratio of 1.78 and a beta of 0.66.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.91 by $0.22. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.17 billion. ResMed had a net margin of 20.91% and a return on equity of 24.43%. ResMed’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.68 EPS. On average, equities analysts expect that ResMed Inc. will post 7.7 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Karen Drexler sold 425 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $214.92, for a total value of $91,341.00. Following the sale, the director now directly owns 8,446 shares of the company’s stock, valued at approximately $1,815,214.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Witte Jan De sold 360 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $218.29, for a total value of $78,584.40. Following the sale, the director now directly owns 7,519 shares of the company’s stock, valued at approximately $1,641,322.51. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Karen Drexler sold 425 shares of the stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $214.92, for a total transaction of $91,341.00. Following the completion of the transaction, the director now directly owns 8,446 shares in the company, valued at $1,815,214.32. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 46,834 shares of company stock valued at $9,694,137. 1.21% of the stock is owned by company insiders.

ResMed Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It operates in two segments, Sleep and Respiratory Care, and Software as a Service. It offers various products and solutions for a range of respiratory disorders, including technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.